Trading analysis

USD/CHF (a 4 hour chart)

General overview

Analysts looked forward to the NFP which had to shed some light on the labor market situation. We expected a growth by 177,000 and the unemployment rate at around 5.0%. The forecast decrease happened due to ISM sub-indices and the NFP growth. The data came in at the level of 151,000 and 4,9%.

The price is finding the first support at 0.9850, the next one is at 0.9750. The price is finding the first resistance at 0.9960, the next one is at 1.0100.

There is a confirmed and a strong sell signal. The price is under the Ichimoku Cloud and it is under the Chinkou Span. The Tenkan-sen shows a downward movement and the Kijun-sen shows a horizontal movement forming a “Dead Cross”. The downward movement will be until the price is under the Cloud.

The MACD indicator is in a negative territory. The price is decreasing.

Trading recommendations

We recommend going long with the first target - 0.9960. When the price consolidates above the first target it may go to the level 1.0100.

Trading in financial markets involves substantial risks, including complete possible loss of investment capital. This activity is not suitable for all investors. High leverage increases the risk (Risk Disclosure).